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Baycol Lawsuits May Cost Bayer $4 Billion, Analysts Say
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September 18, 2002

Bayer AG is close to settling more than 100 cases brought by former Baycol users who contend the withdrawn cholesterol medicine caused muscle deterioration and contributed to some users' deaths, plaintiffs lawyers say. Germany's biggest drugmaker already has resolved 10 Baycol lawsuits, said Chicago plaintiffs lawyer Kenneth Moll. The other 94 settlements are being hammered out and are expected to be announced at a court hearing this week, Mr. Moll said. Bayer agreed to pay at least $200,000 in each of the cases already settled, he added. The settlements are the first of what may become a wave of out-of-court resolutions of more than 2,000 lawsuits alleging Bayer hid Baycol's health risks, Mr. Moll said. Bayer pulled the drug off the market in 2001 after it was linked to at least 52 users' deaths. Analysts say Bayer may have to pay as much as US$4-billion to resolve all Baycol litigation.